Companies operating in the Dubai Airport Free Zone (DAFZA) must have their books of accounts audited by audit firms registered with the Dubai Airport Free Zone Authority (DAFZA). Only audit firms on the DAFZA-approved list are authorized to perform audits, liquidations, or other services for licensed companies within the zone. This auditing requirement applies to both Free Zone Establishments (FZE) and Free Zone Companies (FZCO), ensuring compliance with International Financial Reporting Standards (IFRS), Anti-Money Laundering (AML), and Combating Financing of Terrorism (CFT) regulations.
Established by the Government of Dubai in 1996 through Law No. 2, DAFZA is located near Dubai International Airport, making it a prime hub for global investors. Hosting over 1,600 companies from various industries such as aviation, engineering, and telecommunications, DAFZA plays a significant role in Dubai’s foreign trade. In the first nine months of 2019, DAFZA accounted for 12% of Dubai’s $272 billion foreign trade. Its strategic proximity to the airport provides connectivity to over 220 destinations via 150 airlines, enhancing its appeal for international businesses.
Companies in DAFZA must maintain accurate accounting records, including underlying documents, to ensure transparency in financial reporting. These records should provide a clear and accurate view of the company’s financial health, adhering to IFRS and FTA standards. Proper documentation enables auditors to assess the financial condition and performance of the business over the year.
AARMAK is a top-rated auditing and accounting firm in the UAE, registered with the Dubai Airport Free Zone Authority (DAFZA). AARMAK offers comprehensive auditing services to FZE and FZCO companies within DAFZA, ensuring adherence to IFRS, AML, CFT, and VAT regulations. Their expert auditors provide companies with insights into their financial health, ensuring accuracy and compliance with local and international standards.
To facilitate the auditing process, companies must provide auditors with documents that correspond to the relevant financial period. These documents include:
These documents allow auditors to assess the company's compliance with regulatory standards and provide a true and fair opinion on its financial standing.
Provides expert auditing, accounting, and business services in Dubai, leveraging 20 years of experience to ensure compliance and drive growth for our clients.